Good Food wine writer Katie Spain says it has the aromatic magic of a misty autumn morning, but there are impressive, yet more affordable, alternatives available.
When Penfolds releases its anticipated 2025 Collection on August 7, fine wine collectors around the globe will start to wonder if its biggest star, the coveted 2021 Grange, is worth forking out for.
The multi-vintage, multi-vineyard South Australian red is one of the most collectable wines in the world, and the 2021 has a price tag of $1000.
So, is it worth the big bucks? The answer is maybe, but it depends on how much patience you possess.
If you don’t mind holding on to it for a couple of decades and then selling it, the return on investment could prove fruitful. The first Penfolds Grange vintage was 1951 and has been known to fetch more than $150,000 at auction. A full set of Penfolds Bin Grange from the 1951 to 2018 vintages fetched a record $430,000 at the Penfolds Rewards of Patience Auction hosted by Langtons in 2022.
“We don’t have to wordsmith the success of Grange; it’s just something that happens,” says Penfolds chief winemaker, Peter Gago. “I did a tasting in Napa, California, for someone from one of the top two or three [wine] magazines, and a tear was shed for the 2021 Grange. As far as non-verbal feedback goes, you don’t get much better than that.”
If you’re feeling frivolous or financially flush, you could, of course, just drink it. The new-release 2021 Grange is a stunning drop, with all the aromatic magic of a misty autumn morning. The medley of black fruit from vineyards in the Barossa Valley, McLaren Vale and Clare Valley finishes bright and crunchy, with crochet-like tannin.
The new-release 2021 Grange is a stunning drop, with all the aromatic magic of a misty autumn morning.
I’m a fan, but I can’t afford it. Fortunately, there are more affordable options out there for wannabe collectors.
The 2025 Penfolds Collection includes a line-up of 24 wines from Australia, the US, France and China. While it’s not exactly cheap, the 2022 St Henri Shiraz, at $135, is a wise buy. The wine has a cult following, particularly in America and France.
“The 2022 St Henri – wow, what a wine,” says Gago. “St Henri is a wine that hasn’t received kudos via show results because it’s never been entered. It’s the antithesis of a show wine. It’s not cheap, but it’s not ridiculously out of reach either. From a collector’s perspective, you can’t go past St Henri but not every year, so cherry-pick the vintages.”
Another hot tip is the 2023 Penfolds Bin 389 Cabernet Sauvignon Shiraz for $120. The wine, made from fruit from South Australia’s McLaren Vale, Padthaway and Barossa Valley wine regions, was first made in 1960 by the legendary Max Schubert and was often referred to as “baby Grange” because components of the wine are matured in barrels that held the previous Grange vintage.
“There’s never really been a lesser vintage of the 389, it’s just that some are better than others,” Gago says. “Again, cherry-pick the 389 vintages. Even today, you can buy the 1971, 1976, 1986 and ’90 at auctions and some wine stores. The 1990 Bin 389 is doing silly things in the secondary market. Will that happen for the 2023?”
Time will tell.
“That’s the excitement factor from a wine collectability perspective – it seduces billionaires, it seduces mums and dads, and it seduces young people who are often self-taught like I was. You go on a journey when you can buy more than one bottle.”
Big isn’t always better
According to Ian Desmond, fine wine editor at Langtons, lighter, cool-climate wines are becoming more dominant in the investing and collecting space.
“These cool-climate wines included pinot noir from Tasmania and chardonnay from the Macedon Ranges, which demonstrates a growing demand at the higher end for lighter wines with elegance and vibrancy.”
This is partly due to people’s growing interest in more elegant, vibrant wines and a willingness to branch out to try new styles, varieties and regions.
These wines can also come with a more approachable price tag compared with the cult-status wines of Penfolds Grange and Rockford Basket Press, says Desmond. For example, chardonnay and pinot from Tasmania’s Tolpuddle sit at around $100 a bottle, while Bindi Quartz Chardonnay from the Macedon Ranges is priced between $100 and $150 a bottle, and the Paringa Estate Pinot Noir from the Mornington Peninsula is about $70 a bottle.
“All these wines have great potential and, if patient, can be a strong entry into an investment and cellaring journey.”
Katie Spain’s top Penfolds picks
Penfolds 2023 Bin 150 Marananga Shiraz, $100
Marananga is a special place and what goes into the Bin 150 is often relegated Grange material. This wine exudes presence and ironstone grit. I love the pirouette of dried oregano and piercing red fruit. Rich and pretty.
Penfolds 2022 St Henri Shiraz, $135
The Penfolds St Henri 2022 Shiraz is a ripper. It’s got all the dark, moody beauty of a storm brewing, like rain clouds full of promise over a drought-beaten landscape. Aromatically, there’s attitude to match. A tumble of dark berries, a hit of coffee, waves of lush fruit and an assertive tannin handshake round it off. Buy a couple of bottles and hide them away until you’ve got a few dozen extra candles on your birthday cake.
Penfolds 2023 Yattarna Chardonnay, $220
There’s energy, tension, oak in check, and a mouth-watering finish. All hail pert Tumbarumba, Adelaide Hills and Tassie chardonnay. A fancy dinner party winner.
The wines of The Penfolds Collection 2025 will be available globally from August 7, 2025. For more information, visit penfolds.com.
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